Posted 4/13/2021 20:18 (#8949892 - in reply to #8949453) Subject: RE: Vailcat, Spring wheat from below
NCND
Resistance is in the 660-665 area that has turned this around every time thus far. It’s tough to buy breakouts so I put 671 as my cushion. I really just pulled that number out my arse for adding to the position because the shuttle will have cleared the tower I feel at that stage.
Edit to add
It’s not air up there it is simply space with no gravity. Might as well put a sell to take profits at 868 as that was July contract high 7/5/17. Everyone will want to take a look there.
Outside of growing conditions and acres the other side of the story is that wheat is the most undervalued of all traded commodities out there by a long shot imho. Lumber, corn, beans, ect. Wheat hasn’t caught the free money shuffle ...yet